Finance professionals across the university have one more tool to help make their jobs a little bit easier.
The Chart of Accounts project, part of the Cornerstone initiative, has rolled out a new, step-by-step job aid to help finance professionals throughout Rutgers run the new “RU GL 192 Cumulative Multi-Year Balance Tracking” report from the Financial Reporting Center.
The 192 report is designed to help units report on activity values—such as General Ledger (GL) totals of revenues, expenses, and transfers, under specific activity codes—across multiple periods and/or years.
The job aid will serve as a reference for reporting revenues, expenses, and transfers at three levels: single, multiple, or parent activity value, somewhat replicating how project reporting currently includes data from project inception to current day.
Across the university, as many as 1,000 financial users could benefit from this new reference. The most-likely users of the job aid—and, by extension, the 192 report—will be those involved in closing Fund Type 100 projects and those who may want to see data reported by activity values in the GL over multi-year periods, rather than in just one year.
This report looks at revenues, costs, and transfers between two time periods entered by the user, so they can see the numbers across a multi-year period—as if the funds from a fiscal year had not been swept to the net position on the balance sheet.